On 12/19/08, I BTC 2 RYL Dec08 20 Covered Calls and STO 2 RYL Jan08 22.50 Covered Calls for a net deposit of $141.01 in an IRA account.  My basis for these RYL shares is now 35.36, excluding dividends received.

I didn’t really want to make these transactions on options expiration day but I was going to be away from my computer all day and RYL looked like it “might” close above my Dec08 20 strike price.  The market was up when I made these trades and RYL had been flirting with prices above 20 a couple of times recently.  As it turned out I need not have been concerned but I wanted to be better off safe than sorry.  As they say, you can never lose by taking a profit.